Thrifty Loans

Larger deposits required on most Nationwide mortgages

Yet another major mortgage lender has increased the amount of deposit required from borrowers in light of the global credit crunch, which has resulted in far tighter credit conditions. The nation’s second largest mortgage lender, Nationwide, has announced that borrowers will now have to put down at least a 10% deposit on all but two of [...]

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Situation could ease for homeowners on cheap fixed rate mortgages

Since the series of interest rate rises between August 2006 and July 2007, when five 0.25% rises took the base rate from 4.5% to 5.75%, there has been a great deal of concern about how homeowners on cheap fixed rates will cope. This is because many people that took out a fixed rate mortgage two or [...]

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Nationwide Reports Another Fall In House Prices

Nationwide – Britain’s biggest building society – has reported a fall in house prices in February, for the fourth month in a row. Average house prices fell by 0.5% in the month, leaving the annual rate of house price inflation down at just 2.7%, well down on January’s figure of 4.2%. Chief economist at Nationwide, Fionnuala [...]

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Banks Raise Mortgage Profit Margins

Banks have increased their profit margins on fixed-rate mortgages to their highest level of over ten years, as they try to rebuild their profits. This news comes at the same time as news of an increasing number of cancelled property deals and estate agents offering discounts on asking prices. Banks are taking an increasingly tough and stubborn [...]

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